ASIAN PAINTS Announces Quarterly Results (2QFY21); Net Profit Up 1.3%

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ASIAN PAINTS Announces Quarterly Results (2QFY21); Net Profit Up 1.3%
Fri, 23 Oct

ASIAN PAINTS has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:

ASIAN PAINTS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m50,50729,22753,50283.1%5.9%
Other incomeRs m1,05247182675.5%-21.4%
TurnoverRs m51,55829,69854,32982.9%5.4%
ExpensesRs m40,95824,38440,85067.5%-0.3%
Gross profitRs m9,5484,84312,652161.3%32.5%
DepreciationRs m1,9721,9121,9361.3%-1.8%
InterestRs m2592012051.9%-20.9%
Profit before taxRs m8,3693,20011,337254.2%35.5%
TaxRs m728622,936240.8%3961.1%
Profit after taxRs m8,2962,3398,401259.2%1.3%
Gross profit margin%18.916.623.6
Effective tax rate%0.926.925.9
Net profit margin%16.17.915.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 5.9% on a year-on-year (YoY) basis. The expenses were down by 0.3% YoY during the same period.
  • The company's operating profit increased by 32.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.6% in 2QFY21 as against 18.9% in 2QFY20.
  • Depreciation charges declined by 1.8% and finance costs declined by 20.9% YoY, respectively.
  • Other income declined by 21.4% YoY during the quarter.
  • Net profit for the quarter increased by 1.3% YoY. Net profit margins during the quarter declined from 16.1% in 2QFY20 to 15.5% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 83.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 67.5% QoQ during the same period.
  • The company's operating profit increased by 161.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.6% in 2QFY21 as against 16.6% in 1QFY20.
  • Net profit for the quarter increased by 259.2% QoQ, while net profit margins increased from 7.9% in 1QFY20 to 15.5% in 2QFY21.

To see how ASIAN PAINTS has performed over the last eight quarters,please visit here.

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ASIAN PAINTS Share Price Performance

Over the last one year, ASIAN PAINTS share price has moved up from Rs 1,766.4 to Rs 2,115.9, registering a Gain of Rs 349.5 or around 19.8%.

Overall, the S&P BSE SENSEX is up 4.5% over the year.

Current Valuations

At the current price of Rs 2,115.9, the price to earnings (P/E) ratio of ASIAN PAINTS stands at 87.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 20.0 times.

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ASIAN PAINTS 2019-20 Annual Report Analysis (Annual Result Update)

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ASIAN PAINTS Announces Quarterly Results (1QFY21); Net Profit Down 64.6% (Quarterly Result Update)

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For the quarter ended December 2019, ASIAN PAINTS has posted a net profit of Rs 8 bn (up 20.4% YoY). Sales on the other hand came in at Rs 54 bn (up 2.4% YoY). Read on for a complete analysis of ASIAN PAINTS's quarterly results.

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